Extension in time for compliance with Regulation 16(8) of SEBI (Portfolio Managers) Regulations, 1993
Summary
SEBI grants a three-month extension to Registered Portfolio Managers for complying with the segregation of listed securities under Regulation 16(8). The new deadline for compliance is set as May 10, 2009, replacing the original February 10, 2009 date. Portfolio Managers must submit a compliance report within one week of this extended deadline.
Text
portfolio managers are permitted to comply with the said requirements of sub-regulation(8) of regulation 16 of the SEBI (Portfolio Managers) Regulations, 1993 up to May 10, 2009
the portfolio managers shall furnish a compliance report to SEBI within a week of expiry of the above deadline
Any non compliance after the extended period i.e. after May 10, 2009 may attract penal action under the provisions of the SEBI Act, 1992 and the regulations framed there under
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 16(8) and Regulation 39 of the SEBI (Portfolio Managers) Regulations, 1993
Source: SecMarx — Extension in time for compliance with Regulation 16(8) of SEBI (Portfolio Managers) Regulations, 1993. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.